Piper Sandler Issues Positive Forecast for CrowdStrike (NASDAQ:CRWD) Stock Price

CrowdStrike (NASDAQ:CRWD) had its price target raised by Piper Sandler from $290.00 to $375.00 in a report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently commented on CRWD. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $330.00 price objective on shares of CrowdStrike in a report on Monday, September 30th. Morgan Stanley lifted their price target on shares of CrowdStrike from $325.00 to $355.00 and gave the company an “overweight” rating in a report on Monday, November 18th. UBS Group lowered their price objective on shares of CrowdStrike from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. Needham & Company LLC raised their target price on shares of CrowdStrike from $360.00 to $420.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Hsbc Global Res raised CrowdStrike from a “hold” rating to a “strong-buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $355.80.

CrowdStrike Stock Performance

Shares of CrowdStrike stock opened at $347.59 on Wednesday. The firm has a market cap of $85.20 billion, a PE ratio of 503.75, a price-to-earnings-growth ratio of 26.33 and a beta of 1.10. CrowdStrike has a 1 year low of $200.81 and a 1 year high of $398.33. The firm’s 50-day simple moving average is $313.47 and its 200-day simple moving average is $312.77. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.90 and a current ratio of 1.90.

CrowdStrike (NASDAQ:CRWD) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.07. CrowdStrike had a return on equity of 8.44% and a net margin of 4.84%. The firm had revenue of $963.87 million for the quarter, compared to analysts’ expectations of $958.27 million. During the same quarter in the prior year, the firm posted $0.06 earnings per share. CrowdStrike’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities analysts forecast that CrowdStrike will post 0.49 earnings per share for the current fiscal year.

Insider Activity at CrowdStrike

In other CrowdStrike news, insider Shawn Henry sold 4,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $340.44, for a total value of $1,361,760.00. Following the transaction, the insider now owns 120,298 shares of the company’s stock, valued at approximately $40,954,251.12. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO George Kurtz sold 55,325 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $296.62, for a total value of $16,410,501.50. Following the sale, the chief executive officer now directly owns 1,109,746 shares of the company’s stock, valued at approximately $329,172,858.52. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,248 shares of company stock valued at $32,465,110 over the last ninety days. Insiders own 4.34% of the company’s stock.

Institutional Trading of CrowdStrike

Several institutional investors and hedge funds have recently bought and sold shares of CRWD. State Street Corp boosted its holdings in shares of CrowdStrike by 2.9% in the third quarter. State Street Corp now owns 9,630,776 shares of the company’s stock worth $2,701,144,000 after buying an additional 275,717 shares during the period. Jennison Associates LLC lifted its position in shares of CrowdStrike by 25.0% in the 3rd quarter. Jennison Associates LLC now owns 5,068,800 shares of the company’s stock valued at $1,421,646,000 after acquiring an additional 1,013,161 shares in the last quarter. Geode Capital Management LLC boosted its stake in CrowdStrike by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,893,457 shares of the company’s stock worth $1,367,505,000 after purchasing an additional 97,990 shares during the period. Legal & General Group Plc grew its position in CrowdStrike by 3.0% during the 2nd quarter. Legal & General Group Plc now owns 2,049,704 shares of the company’s stock worth $785,425,000 after purchasing an additional 60,607 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in CrowdStrike by 4.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,817,387 shares of the company’s stock valued at $696,471,000 after purchasing an additional 77,100 shares during the period. Institutional investors and hedge funds own 71.16% of the company’s stock.

About CrowdStrike

CrowdStrike Holdings, Inc provides cybersecurity solutions in the United States and internationally. Its unified platform offers cloud-delivered protection of endpoints, cloud workloads, identity, and data. The company offers corporate endpoint and cloud workload security, managed security, security and vulnerability management, IT operations management, identity protection, SIEM and log management, threat intelligence, data protection, security orchestration, automation and response and AI powered workflow automation, and securing generative AI workload services.